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    81-85 110Th St New York, NY 10029

    For Sale
    $5,250,000

    Prime location, retail tenants, high potential.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    This exceptional East Harlem development opportunity presents a 6,055 square foot lot at 81-85 E 110th St, New York, NY 10029, two blocks from Central Park. Currently improved with three retail tenants possessing demolition clauses, generating a net operating income of $150,000. The property is zoned for residential use and offers significant development potential. As-of-right development allows for 31,553 buildable square feet, or 39,359 square feet if designated as a community facility. The land is priced at $139 per square foot, with an asking price of $5,250,000. This 60-foot wide site presents a rare chance to capitalize on East Harlem's thriving real estate market. The property's strategic location and existing income stream make it an attractive investment for developers seeking a high-return project. The existing retail tenants provide immediate cash flow while offering flexibility for future development plans. This is a unique opportunity to acquire a well-positioned property with substantial upside potential in a rapidly growing neighborhood. The permitted zoning ensures a straightforward development process, minimizing potential delays and uncertainties. This property offers a compelling blend of immediate income and long-term development prospects.

    Property Features for 81-85 110Th St

    General Information

    Property type
    Land

    HighLights

    • 6,055 SF lot at 81‑85 E 110th St, NYC, two blocks from Central Park.
    • 60' wide development site with retail and residential zoning.
    • As‑of‑right development potential: 31,553 buildable SF (residential) or 39,359 SF (community facility).
    • Three retail tenants with demolition clauses, generating $150,000 NOI.
    • Asking price: $5,250,000 ($139/SF).
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    New York
    County
    New York
    State
    New York
    Longitude
    -73.946532723602
    Latitude
    40.795702775078

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    FAQs

    What type of property is this?
    Land - Prime location, retail tenants, high potential.
    Where is this land located?
    The property is located at 81-85 110Th St New York, NY.
    What is the asking price?
    The asking price for this property is $5,250,000.
    What are key features of this property?
    This property features: 6,055 SF lot at 81-85 E 110th St, NYC, two blocks from Central Park.; 60' wide development site with retail and residential zoning.; As-of-right development potential: 31,553 buildable SF (residential) or 39,359 SF (community facility).
    (646) 546-5880
    Request Owner's contact information
    81-85 110Th St New York, NY 10029
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    New York, NY 10029
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    81-85 110Th St New York, NY 10029
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